Question: How is forecasting in the context of a supply chain
How is forecasting in the context of a supply chain different from forecasting for just a single organization? List possible supply chain benefits and discuss potential difficulties in doing supply chain forecasting.
Answer to relevant QuestionsWhich type of forecasting approach, qualitative or quantitative, is better? 1. Explain the trade-off between responsiveness and stability in a forecasting system that uses time-series data. 2. Who needs to be involved in preparing forecasts? 3. How has technology had an impact on forecasting?National Scan, Inc., sells radio frequency inventory tags. Monthly sales for a seven- month period were as follows: Month Sales (000 units)Feb. ............. 19Mar. ............. 18Apr. ............. 15May ...Compute seasonal relatives for this data using the SAmethod:Two independent methods of forecasting based on judgment and experience have been prepared each month for the past 10 months. The forecasts and actual sales are as follows:a. Compute the MSE and MAD for each forecast. Does ...
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